Is Springfield Township, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Springfield Township is a seller's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Springfield Township was a Neutral Market.

Key Takeaway

Springfield Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Springfield Township, PA

How much do homes in Springfield Township, PA cost?

Median Sold Price

$440,000

$238/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$30,000(+7.3%)

Key Takeaway

Homes in Springfield Township have sold for 7.3% more than they did a year ago.

Summary: The median home sold price in Springfield Township was $440,000 in February 2024, up 7.3% from last year, and the median price per square foot was $238.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $116K-
N/A
2 $236.7K$380K
+60.5%
3 $383.7K$435K
+13.4%
4 $540K$515K
-4.6%
5+ $697.5K$632.5K
-9.3%

Summary: Springfield Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 60.5%, 3 bedroom homes increased by 13.4%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes decreased by 9.3%.

Median Sold Price Compared To Nearby Cities

Saltlick Township
+16.3%
Springfield Township
+7.3%

Housing Supply in Springfield Township, PA

How many homes are available in Springfield Township, PA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4144+7.3%

Summary: The Springfield Township real estate market had 44 homes for sale in February 2024, a 7.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 01
+100.0%
2 69
+50.0%
3 2118
-14.3%
4 810
+25.0%
5+ 66
0.0%

Summary: The Springfield Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
10100.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Springfield Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 10 homes were sold or pending in Springfield Township in February 2024, the same as the previous month. Of the 10 sold homes, 40% were sold under asking, 10% were sold at asking, and 50% were sold over asking.

Days on Market for Springfield Township, PA

How long does it take to sell a home in Springfield Township, PA?

Average Sale Time

Feb 2023Feb 2024CHANGE
8 Days31 Days+268.2%

Summary: Homes in Springfield Township had an average of 31 days on market in Feb 2024, up by 268.2% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Springfield Township are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 10 homes were sold in Springfield Township; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Springfield Township, PA

Nearby Markets to Springfield Township, PA